The post These Altcoins Mark a New ATH as BTC Marches Above $81,500-The Crypto Bull Run Has Began appeared first on Coinpedia Fintech News
Bitcoin price continues to display strength in the discovery phase and officially announced the beginning of the bull run. In the times when BTC dominance continues to rise, some altcoins are demonstrating acute strength. Hence suggesting a nominal change in the altcoin actions which largely swell after the BTC price rally calms down. Newly launched tokens like SUI, GOAT & MEW smashed a new ATH while being on a rising trajectory since the start. Therefore, these tokens are believed to display iconic moves, following the BTC price rally.
Sui (SUI) Price Analysis
The SUI price experienced a huge push just before the start of the weekend, helping the price close the weekly trade at a new ATH above $3. The token appears to have been backed by the bulls as the bears failed to drag the levels below $3 as the price opened the fresh weekly trade above these levels. Now that the price trades are in the discovery phase, the question arises as to where could be the next pitstop for the SUI price rally.
The SUI price is constantly attracting buying volume as the bulls have maintained a significant dominance since the start. The bears tried to hinder but as seen in the MACD, the buying pressure has again piled up, substantiating the bullish claim. Besides, the RSI has entered the overbought range with no possibility of a reversal. Hence the levels are expected to remain within the range for a while helping the SUI price rally to achieve new highs at around $5.
Goatseus Maximus (GOAT) Price Analysis
GOAT’s price commenced its trading journey with a huge upswing of over 1300%, marking highs at around $0.87. This rally has attracted the bears and as a result, the price is facing equal bullish and bearish pressures at frequent intervals. However, in the wider perspective, the token has reversed the trend which has helped the price to form a new ATH very close to $1 and hence a small pullback may offer a catapult action beyond the levels.
As seen in the above chart, the GOAT price has reversed the trend from a descending to an ascending parallel channel which suggests the next ATH could be above $1.1. After forming a new ATH, the buyers fell weak which attracted a quick sell-off as suggested in the MACD. Meanwhile, the stochastic RSI has already fallen apart which may cause the price to drop slightly below $0.8. However, the price remains within a bullish range and hence the token could trigger a strong reversal and form new highs soon.
cats in a dogs world (MEW) Price
Yet another token marking a new ATH is cats in a dogs world price which has achieved a high of $0.011 with a jump of 25% from the previous day’s open. The token continues to trade within a rising wedge which suggests a small pullback may hinder the progress of the rally, but it may remain only for a while.
The RSI is incremental after rebounding from the average zone and is heading towards the upper threshold. Meanwhile, the volume remains within the average range, suggesting the bulls could be backing the rally. If the bearish pressure rises, the price may test the support just below $0.01, which may attract the bulls, who may initiate a strong rise, breaking the upper resistance and marking the levels above $0.015.